Bill > SB1323

This bill amends two separate pieces of legislation related to tax credits in Tennessee by removing specific authorization requirements. Specifically, the bill eliminates subsection (f) from Tennessee Code Annotated, Section 13-23-134, which previously required Tennessee rural and workforce housing tax credits to be authorized by a joint resolution of the general assembly. Additionally, the bill removes the second sentence from Section 6 of Chapter 971 of the Public Acts of 2024, which likely contained similar language restricting tax credit authorization. By deleting these provisions, the bill appears to streamline the process for approving rural and workforce housing tax credits, potentially making it easier to grant such credits without requiring explicit legislative joint resolution. The changes will take effect on July 1, 2025, as specified in the bill's final section, with the stated justification that the public welfare requires these modifications.

Budget and Finance, Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1323&ga=114